Colorado Revised Statutes Title 44. Activities Regulated by the Department of Revenue § 44-20-126. Independent control of dealer--definitions

(b) Ownership or control of a dealer while the dealer is being sold under a bona fide contract or purchase option to the operator of the dealer;

(c) Participation in the ownership of the dealer solely for the purpose of providing financing or a capital loan that will enable the dealer to become the majority owner of the dealer in less than seven years;

(d) Operation of a motor vehicle dealer if the manufacturer has no other dealers of the same line-make in this state; or

(e) Repealed by Laws 2020, Ch. 71 (S.B. 20-167), § 1, eff. Sept. 14, 2020.

(f) Repealed by Laws 2020, Ch. 71 (S.B. 20-167), § 1, eff. Sept. 14, 2020.

(g) Ownership, operation, or control of one or more motor vehicle dealers if the manufacturer manufactures only electric vehicles and has no franchised dealers of the same line-make in this state.

(a) “Control” means to possess, directly, the power to direct or cause the direction of the management or policies of a person, whether through the ownership of voting securities, by contract, or otherwise; except that “control” does not include the relationship between a manufacturer and a motor vehicle dealer under a franchise agreement.

(b) “Manufacturer” means a motor vehicle manufacturer, distributor, or manufacturer representative.

(c) “Operate” means to directly or indirectly manage a motor vehicle dealer.

(d) “Own” means to hold any beneficial ownership interest of one percent or more of any class of equity interest in a dealer, whether as a shareholder, partner, limited liability company member, or otherwise. To “hold” an ownership interest means to have possession of, title to, or control of the ownership interest, either directly or through a fiduciary or agent.